professional-to-professional trading

Reply Tue 31 Aug, 2010 08:19 pm
Using data from the New York Stock Exchange, Ms. Sonders of Charles
Schwab estimates that program trading accounted for about 40 percent of all trades on the Big Board in recent days, up from the 30 percent range earlier this year.
“That’s why we are getting these swings, this is professional-to-professional trading,” she said. “This is money that has a time horizon measured in minutes.”

Does "p-to-p trading" refer to trading between financial institutions like funds, banks, corps, etc.?
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Reply Wed 1 Sep, 2010 02:31 am
This is money that has a time horizon measured in minutes

And a second question: What does "a time horizon measured in minutes" mean?
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